Germany: highest surplus since reunification in 2015

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Germany's statistics office says the country last year achieved its highest budget surplus since reunification a quarter-century ago.

The Federal Statistical Office said Tuesday that federal, state and local governments last year accumulated a surplus totaling 19.4 billion euros ($21.5 billion) — up from 8.9 billion euros the previous year. That beat the previous record of some 18.2 billion euros from 2000.

Last year's surplus amounted to 0.6 percent of gross domestic product, double the previous year's 0.3 percent.

The German economy, Europe's biggest, grew by 1.7 percent last year and is expected to repeat that performance this year. The economy's solid performance has boosted the government's tax income and allowed it to run a surplus at a time when other countries in Europe have sizeable deficits.